The engines of growth are powerful. Growth is the standard toolbox for economic developers: it shows that the region, on aggregate, is better-off than the previous year. Growth indicates that small and large businesses are selling goods, investors are financing new projects, and a region is providing more opportunities for individuals and families. A growing economy usually indicates more employment opportunities, increased sales and revenue, more foreign exports, and growing earnings for workers.
We envision an economy powered by the engines of growth,
creating shared prosperity for families,
and building opportunity and community wealth for all of Longmont.
Our Vision for Longmont's Economy
A foundation built around growth, prosperity, and inclusion.
The Engine of Economic Success
A Rising Tide for All Boats
Building Community Wealth and Opportunity
Economic development hasn't always been equipped to achieve this vision.
Here's a brief history of where economic development has been.
Traditional economic development focuses on
Primary Industry Development
Some communities focus on
Building vibrant local economies through
Solving specific local economic problems with
We're advancing the next evolution of economic development: collective impact.
Collective impact aligns organizations, people, and resources to implement what matters.
Of all of the three components, growth is the easiest to achieve as a silo. Very little cross-community work is necessary to grow revenue or employment. Traditional economic development tools are well-equipped to address the challenges and opportunities of growth.
Yet, achieving prosperity and inclusion requires new levels of cross-community alignment. Organizations must work together to address these systemic challenges by re-orienting the entire community system. Collective impact invites us to transform how our community works together to address our shared challenges. This powerful framework improves communication, alignment, and institutional knowledge between private, public, and non-profit partners in our community. It also creates and deploys innovative projects that accelerate community and economic impact. Collective impact is our opportunity to develop a local economy with a strong foundation in growth, prosperity, and inclusion.